At Permissionless, we catch up with one of South Florida’s top web3 scaleups
By Riley Kaminer
NFTs have become the gateway for more established companies to get into the web3 space. From sports franchises to apparel companies, some of the world’s biggest brands have used NFT projects as their foray into web3.
While these behemoths may have the intellectual property necessary for a successful NFT launch, it is unlikely that they have the crypto know-how in house.
That’s where Miami-based RECUR steps in. They are a team of designers, programmers, and innovators with the web3 prowess necessary to make a major project. Since being founded in February 2021 and raising a $50 million Series A round the same year, they have helped brands such as Paramount, Nickelodeon, Hello Kitty, and Star Trek create NFT experiences.
Now RECUR plans to expand access to their platform – the tech at the core of the company’s activities – to share their special sauce for NFT success with smaller brands and creators.
“We’ve shown the world what’s possible with the RECUR platform, but now we’re starting to open up our infrastructure and our APIs so we can enable creators of all sizes – not just the large, publicly-traded businesses of the world,” co-founder and CEO Zach Bruch told Refresh Miami. RECUR plans to release these APIs in Q3 or Q4 of this year.
Much of the RECUR advantage lies in its customer friendliness. “We want fans to feel comfortable to participate using their credit card or Apple Pay or Google Pay or pay with crypto,” explained Bruch. “Ultimately, we want to help widen the range of distribution for these artists, creators, and brands, while also widing the range of utility for their fans.”
When it comes to user accessibility, Bruch has a unique north star: the purchasing process must be simple enough for his mom to be able to participate. “I’m proud to say my mom has purchased every single one of our drops,” he said, “which is really incredible, considering she types on her phone with one finger.”
Another notable aspect of RECUR is that it is blockchain agnostic. That means users can swap their assets back and forth as and when they want. “Our viewpoint is that if you cannot take an NFT wherever you want and you’re stuck on one chain or in one ecosystem, then do you really own it?” explained Bruch. “True ownership is being blockchain agnostic.
As part of this week’s Permissionless conference at the Palm Beach Convention Center, RECUR announced that they will begin to support the Avalanche Blockchain, further promoting this interoperability.
While the web3 space is increasingly crowded, Bruch is confident about RECUR’s position. “Competition forces everyone to be better.” He noted that his now 200-person team has some of the best experience in the market building institutional grade products.
“We’re excited about the space expanding and growing,” said Bruch, contrasting the 5,000+ attendees at this year’s Permissionless conference to the small Bitcoin gatherings he started attending in the mid-2010s.
Bruch, who grew up in New Jersey before spending stints in Michigan and New York, is bullish on the Miami tech scene. He is particularly excited about the local leaders that have been promoting our tech ecosystem on a global scale. “Other cities aren’t encouraging entrepreneurs in the way Miami is.”
“The city has done a fantastic job at welcoming entrepreneurs and creating an environment where they can thrive,” he continued. “We’re so proud to be here and to keep growing here.”
READ MORE ON REFRESH MIAMI:
- RECUR scores $50M to develop sports-focused NFT marketplace
- Got crypto questions? Defy Trends is a new, Miami-based startup that can help
- Meet the asset management firm that just launched a $30M metaverse fund